Binance, the world's largest cryptocurrency exchange, has made a significant move by delisting four cryptocurrencies from its platform. WAVES, OMG Network, NEM, and Wrapped NXM are the tokens that will no longer be supported on Binance. This decision has sent shockwaves through the market, causing prices to plummet by as much as 25%.

The Reason Behind the Delisting

Binance has cited the failure of these tokens to meet the exchange's high standards and industry requirements. The exchange periodically reviews its listed cryptocurrencies to ensure they maintain a high level of quality. If a token no longer meets these standards or the market landscape changes, it may be delisted. Binance's priority is to protect its users and adapt to evolving market dynamics.

The Last Chance to Withdraw

The last date to withdraw these tokens is September 17. Binance has already stopped supporting these tokens on its Simple Earn, Auto-Invest, and Loans services. This move is a significant blow to the tokens, which will no longer be available for trading on the platform after June 17.

The Factors Behind the Delisting

Binance reviews its listed cryptocurrencies based on several key factors. These include a team's commitment to the project, development activity, trading volume and liquidity, network stability and safety, smart contract stability, public communication, response to due diligence requests, unethical conduct, regulatory requirements, and contribution to the crypto ecosystem.

Market Reaction

The announcement has sent prices tumbling. WAVES has dropped by over 25%, currently trading at $1.77. The trading volume has surged over 900% as traders and investors adjust their holdings. OMG, WNXM, and XEM have also seen significant price drops, falling by over 25%, 3%, and 29%, respectively.